Today’s digital age means that small businesses have more to worry about than ever. However, small businesses in the United States have less to worry about now that electronic payments and banking are the main transaction channels.

CashEdge found that 72 percent of small businesses with annual revenues between $5 million and $10 million expressed an interest in online payments.

CashEdge estimates that small businesses made 41 percent more electronic employee payments between March 2006-March 2007. Bank of America and other companies have created Express Invoicing services that allow small business owners to electronically create and send invoices.

“With Express Invoicing, small business owners can spend less time on billing procedures and more time keeping their businesses running and growing,”Joe Helweg, Bank of America’s senior vice president and executive for small business ecommerce, said the following:

Express Invoicing, part of Bank of America’s Online Business Suite is rapidly becoming a tool to ease the burden. These tools are targeted at small businesses, which in 2006 accounted for 26 million. They can be used by companies with one to 500 employees.

Owners are becoming more tech-savvy as they look to cut down on billing time and take advantage of influences like the Internet, broadband, and online advertising.

Electronic Invoicing allows for the creation and sending of an average invoice in less than two minutes. These services are just a part of a wider range of online solutions that can all be combined to improve a company’s productivity.

Customers can now view their business and personal accounts with just one online ID. Direct-payment modules are a useful tool that allows small businesses to have electronic vendor payments. It also gives them the ability to offer payroll solutions and direct deposits for employees.

It’s never been easier to find security, control, and value in financial management, especially at a time when small businesses are growing faster than ever before.

For more information, please visit www.bankofamerica.com/suite.